Lifeworks Advisors LLC Has $1.50 Million Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Lifeworks Advisors LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,838 shares of the semiconductor company’s stock after acquiring an additional 350 shares during the period. Lifeworks Advisors LLC’s holdings in Lam Research were worth $1,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Foster Victor Wealth Advisors LLC raised its holdings in shares of Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after buying an additional 211,614 shares in the last quarter. Swedbank AB acquired a new position in shares of Lam Research in the 1st quarter worth approximately $192,668,000. Vanguard Group Inc. raised its holdings in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Trading Up 2.2 %

LRCX stock traded up $1.59 during midday trading on Thursday, hitting $75.44. 1,767,618 shares of the company’s stock were exchanged, compared to its average volume of 11,211,563. The stock’s fifty day moving average price is $77.37 and its 200-day moving average price is $88.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a market cap of $97.07 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts predict that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRCX. Morgan Stanley dropped their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Citigroup decreased their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.